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Sotherly Hotels Reiterates FY2024 Outlook: Adj. FFO $0.64-0.69 Vs $0.66 Est; Revenue $178.952M-182.567M Vs $182.50M Est

Benzinga ·  May 9 06:38

2024 Outlook

Set forth below is the Company's previously issued guidance for 2024. The table below reflects the Company's projections, within a range, of various financial measures for 2024, in thousands of dollars, except per share and RevPAR data:

2024 Guidance
Low Range High Range
Total revenue $ 178,952$ 182,567
Net income 1,598 2,593
Net loss available to common stockholders and unitholders (6,377) (5,382)
EBITDA 39,858 40,853
Hotel EBITDA 46,103 46,898
FFO available to common stockholders and unitholders 12,373 13,368
Adjusted FFO available to common stockholders and unitholders 12,778 13,773
Net loss per share available to common stockholders $ (0.32) $ (0.27)
FFO per common share and unit $ 0.62$ 0.67
Adjusted FFO per common share and unit $ 0.64$ 0.69
Rev PAR $ 117.16$ 119.52
Hotel EBITDA margin 25.8% 25.7%
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